SBA 504 Loan Helps To Build Healthcare Facility in the High Desert
Sometimes the perfect building in the perfect location just doesn’t exist. Your business needs may be too specific for the existing commercial space in your region. The Small Business Administration (SBA) 504 loan program is an exceptional tool for small business owners who are growing out of their current location, but need to create a brand-new space that fits their specific needs. Southern California Bone & Joint Clinic in the High Desert required a customized space as their business’ needs outgrew the 2,100 square-foot medical office that they were leasing.
Dr. Liu, owner of the business, owned two parcels of land that were a perfect space for the construction of a new clinic in Apple Valley, CA. Conco Construction Engineer, Design & Build was commissioned to build a new, two-story, 15,179 square-foot clinic that enabled the business to be able to expand its orthopaedic services to include additional subspecialties including physical therapy, as well as accommodating its increasing patient volume, and allowing for additional medical providers and equipment. The doctors at this clinic treat a full range of orthopaedic problems, and specialize in sports medicine and concussion care, and are the only office in the area that provides diagnostic tests for concussions.
Enterprise Funding Corp. was happy to assist with this outstanding project. We partnered with JP Morgan Chase Bank, who provided 50 percent of the project total, Enterprise Funding provided 40 percent, and Southern California Bone & Joint Clinic provided 10 percent of the total project cost. The fixed rate provided by the SBA 504 loan program and the 10 percent down payment helped these business owners preserve working capital and still grow their business.
Gwen Bedics, our local loan expert in the High Desert region, facilitated the project’s financing. “It was a pleasure working with Dr. and Mrs. Liu. Their new building is a beautiful addition to the community. Now their exceptional medical practice has a facility that compliments their high level of patient care.”
The owners at Southern California Bone & Joint Clinic remarked, “Gwen at Enterprise Funding Corporation walked us through every step of the loan and made the transaction possible. We learned a lot through Gwen and her team, and we truly appreciated their help.”
Is your small business ready to move from a leased space into your own building, or even to build your own customized space? An SBA 504 loan was designed to help small businesses, like yours, do just that! Effective rates for August 2017 for a 20-year term are just 4.53% and down payments are typically only 10%. Call today to talk to a loan specialist (909) 792-3803 about your needs!